U.S. Corporate Wellness Market - Industry Analysis, Growth, Key Trends, Regional Assessment, and Forecast 2019-2029
U.S. Corporate Wellness Market: Overview
The U.S. corporate wellness market gains from a number of factors and is expected to continue to display a strong growth trajectory over the 2019 – 2029 forecast period. In the modern business world, employee wellbeing has proved to have long term benefits for employers. Employees who feel they are cared are likely to be more committed and work diligently for employers. Around 60% of employees favor that corporate wellness programs motivate them to opt for a healthy lifestyle outside the office as well.
The report studies the U.S. corporate wellness market in terms of service, end-use, category, and delivery model.
The report on the U.S. corporate wellness market delves into demand dynamics, trends, and opportunities for a comprehensive analysis of the said market for the 2019- 2029 forecast period. Furthermore, the report studies key segments, including growth rate of key segments over the forecast period. Lastly, valuable insights into the competitive landscape with a detailed discussion on winning strategies of key players in the U.S. corporate wellness market is a highlight of this report.
U.S. Corporate Wellness Market: Competitive Landscape
The U.S. corporate wellness market marks the presence of some top-notch companies to make it a competitive vendor landscape. Introduction of new wellness programs, bundle-up of wellness programs, and collaborations are some key focus of large players in the U.S. corporate wellness market. Strong marketing campaigns and offering value-added programs are some other strategies savvy players are engaged in for higher share in the U.S. corporate wellness market.
Some prominent players in the U.S. corporate wellness market are ComPsych, VIRGIN PULSE, EXOS, PRIVIA Health, WELLSOURCE Inc., Wellness Corporate Solutions LLC, Provant Health Solutions, MARINO WELLNESS, and VITALITY.
U.S. Corporate Wellness Market: Key Trends
Proven benefits of corporate wellness programs to counter physical and mental disorders is a key factors spurring the U.S. corporate wellness market. According to a study published by the American Journal of Health Promotion, nearly half of the employers in the U.S. offered some kind of health promotion program.
Besides this, the high ROI of corporate wellness services attracts employers to offer these services mostly as a part of employee compensation package. Employers, especially in a large-scale organization, pay a considerable amount of healthcare premium to insurance providers. The increasing number of employees who fall sick often leads to shoot up of premium amount for employers to increase their financial burden. Corporate wellness programs offered in the form of
yoga sessions, meditation sessions, dietary sessions, and other wellness programs helps reduce stress among employees to perform better. Such benefits attract employers to invest in corporate wellness program for overall reduced healthcare costs and increased productivity at work.
Incentives offered by the government to incorporate corporate wellness programs attract employers to adopt these programs. For example, in May 2016, the U.S. Equal Employment Opportunity Commission passed a rule to implement Title II of the Genetic Information Nondiscrimination Act connected with employer wellness programs. Going by this, employers may provide limited financial assistance and other incentives in exchange for employee participation in wellness programs.
Guarantee of safeguard of employee health information shared for wellness programs builds confidence among employees to opt for these programs. The Health Insurance Portability and Accountability Act safeguards employee health information held by employers for such programs.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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